Recall our discussion about simulating inventory systems. In…
Recall our discussion about simulating inventory systems. In this exercise, we simulate random demand over 365 days and set up an inventory system in a spreadsheet. Assume the lead time is 1 day, and the inventory operates under an (R,Q) policy where: Reorder Point (R): 100 Order Quantity (Q): 800 The following figure provides a snapshot of the spreadsheet simulation. Please answer the following questions. (Plus, I also attach the spreadsheet here problem 2_simulation inventory.xlsx, if it is easier for you to see the cell name in the Excel. Please see “sheet 1″)